Marketing Money Centre - CompanyData

Company Data The Money Center LLC (TMC) is a private company that provides consumer loans to the unbanked and under banked community. The company was founded in 2006 and plans to open its first store on March 1, 2007 in Elgin, Illinois. The main product that will be offered is the payday loan. The payday loan is a small denomination, unsecured cash advance that is due on the customer’s next payday. The Money Center also offers a variety of products to its client in order to become the customer “Local Money Center” for short term and long term financial needs. The products offered in order to accomplish this mission statement are: • Installment Loans: They are loans with a longer maturity and larger in amount than the typical payday loan. • Auto Title Loans: It is a loan secured by a customer’s car with a maturity of up to a year. • Debit Cards and ATM Access: They are pre loaded debit cards that will allow the customers to have instant access to cash.

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• Term Life Insurance Brokerage Service: It is a term insurance through Fidelity Life Insurance Company. • Mortgage Brokerage Service: At the time of the launch, Advisory Mortgage and Financial Services will offer the mortgages. At a future date a licensed mortgage broker employee of TMC will take over the service. The Payday Industry The payday industry is attractive to investors because of the rapidly expanding customer base. While there is an increase in the demand for basic financial services, access to banks has become more difficult. This has created a favorable climate for the market of alternative financial products. TMC is entering this market to provide customers the type of services that have not been available up to this point. TMC will attract and maintain customers by providing them with a high level of customer services in a clean and modern environment. The modern look and feel will help TMC to differentiate itself from the competition. This, coupled with the use of the latest technology to increase efficiency, will ensure customer satisfaction.

TMC will become the leading multi-line provider of financial services to the under banked community. TMC plans to rapidly and systematically open owned and operated stores in each market they enter. This strategy will first be applied to the Middle markets, where the regulations and the demographic trends are the most favorable, and then will expand and be applied to other states. Competitive Analysis There is a common misconception in America that everyone conducts their financial affairs through retail banks or other similar financial institutions.

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